Dynamic Technology Lab Private Ltd Buys 9,149 Shares of AZZ Inc. (NYSE:AZZ)

Dynamic Technology Lab Private Ltd lifted its stake in AZZ Inc. (NYSE:AZZ) by 258.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,689 shares of the industrial products company’s stock after acquiring an additional 9,149 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in AZZ were worth $1,048,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in AZZ by 3,790.0% during the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 379 shares during the period. CWM LLC increased its position in shares of AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares during the period. Point72 DIFC Ltd acquired a new position in shares of AZZ in the second quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AZZ in the second quarter worth $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of AZZ during the 2nd quarter valued at about $72,000. Institutional investors own 90.93% of the company’s stock.

AZZ Stock Performance

Shares of AZZ stock opened at $92.24 on Wednesday. The firm has a 50 day simple moving average of $81.76 and a 200 day simple moving average of $80.01. The firm has a market cap of $2.76 billion, a P/E ratio of 72.14, a P/E/G ratio of 1.34 and a beta of 1.25. AZZ Inc. has a fifty-two week low of $48.03 and a fifty-two week high of $97.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. AZZ’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 EPS. Sell-side analysts predict that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio is currently 53.13%.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research assumed coverage on AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.